Tesla’s Model Y Sells Out in Q1, Production Delayed Until April

Morningstar Maintains "Buy" Rating on Tesla

Tesla’s (TSLA:NSD) Model Y SUV is already sold out for the first quarter of 2023 in the US, with production not expected to start until April, according to a report by Electrek.

The company’s website lists expected delivery dates for the Model Y between April and June of this year. Despite raising the price of the Model Y earlier this month, Tesla is still offering a tax credit of $7,500 to buyers.

California remains the biggest market for EVs in the US, with an additional incentive of $2,000 for EV buyers on top of the federal tax credit.

Meanwhile, Tesla stock price has shown fluctuations over the past week, with a 6.43% increase, while over the past month, the stock has risen by 75.03%.

Analysts rate Tesla stock with a consensus “Strong Buy” rating and an average stock price target of $246.14 per share over the next 12 months.

 

Company Profile:

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage.

The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.

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